Keepmoat Apollo deal reaches completion
The merger of Keepmoat and Apollo has legally completed, the new company’s chief executive announced today.
A statement from the newly-formed social housing build and maintenance company said integration is now fully underway.
It said the combined business creates “a national market leader in community regeneration and social housing solutions with a turnover of some £1 billion, employing around 3,500 people across the UK”.
Chief executive Ian Sutcliffe said: “I am very pleased to announce the formal completion of the merger between Keepmoat and Apollo.
“There is compelling rationale for our coming together as we have joined two strong businesses with the vision of becoming the leading player in our sector with national coverage and a comprehensive client offering.
“We have already made substantial progress in terms of integration and, whilst there is still plenty of work to be done, I am confident that we are now well-placed to successfully deliver on our business objectives and I therefore look to the future with great optimism.”
A redundancy consultation was launched at the end of last month, understood to involve several hundred support staff.
The two firms announced the merger in July last year and it was given the green light by the Office of Fair Trading in January. Since then, former Keepmoat chief executive David Blunt has retired and Mr Sutcliffe has re-shuffled the executive board.
The OFT said Keepmoat and Apollo only overlap at a regional level in the East Midlands and East of England, with the overlap in supply of repair, maintenance and improvement and new build also limited.